What Is The Projected Market Size And Growth Rate Of The Global Defense IT Spending Market?
The defense IT spending market has been witnessing steady growth over the last few years. From a size of $92.68 billion in 2024, the market is projected to grow to $96.57 billion in 2025 at a compound annual growth rate (CAGR) of 4.2%. This growth can be majorly attributed to cybersecurity concerns, shift to cloud services, advancements in AI, and analytics, and integration of IoT.
Furthermore, the defense IT spending market size is projected to witness strong growth in the coming years. By 2029, the market size is estimated to hit $129.87 billion at a CAGR of 7.7%. This growth can be attributed to the development of autonomous systems, emphasis on mobile solutions, focus on interoperability, modernization initiatives, IoT expansion, and advancements in AI and analytics.
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Which Factors Are Catalyzing The Growth Of The Defense IT Spending Market?
Rising geopolitical tensions are a significant driving force behind the upward trajectory of the defense IT spending market. With geopolitical tensions leading to increased demand for advanced IT systems, the market experiences a consequent boost. Uppsala University reports a 46% increase in deaths due to organized violence in 2021 compared to the previous year, indicating heightened geopolitical tensions and, in turn, boding well for the defense IT spending market.
What Are The Crucial Segments Within The Global Defense IT Spending Market?
1) By Type: Services, Hardware, Software
2) By Force: Defense Forces, Civilian Forces
3) By Application: IT Infrastructure, Cybersecurity, Defense Cloud Computing, Data Analytics, IT Application, Logistics And Assets Management, Other Applications
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Who Are The Major Players In The Defense IT Spending Market?
Major players functioning in the defense IT spending market include Leidos Holdings Inc., Accenture PLC, International Business Machines Corporation, General Dynamics Corporation, BAE Systems PLC, DXC Technology Company, Dell Inc., Northrop Grumman Corporation, Unisys Corporation, Atos SE, Capgemini SE, Fujitsu Limited, Oracle Corporation, SAP SE, Microsoft Corporation, Amazon Inc., AT&T Intellectual Property, CACI International Inc., Atkins, Raytheon Technologies Corp., Lockheed Martin Corporation, Aerojet Rocketdyne Holdings Inc., L3Harris Technologies Inc, Science Applications International Corporation, Kratos Defense & Security Solutions Inc., Mercury Systems Inc., Cubic Corporation, Parsons Corporation, Hewlett Packard Enterprise Development LP, Viasat.
What Keys Trends Are Emerging In The Defense IT Spending Market?
Product innovation is emerging as a key trend in the market. Companies, such as BAE Systems, are focusing on developing new products to strengthen their market presence. In May 2022, BAE Systems introduced a new lightweight head-up display, LiteWave, for use in commercial and military aircraft.
Which Region Is The Largest Within The Defense IT Spending Market?
North America emerged as the largest region in the defense IT spending market in 2024. However, various regions including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa are also covered in the defense IT spending market report.
What Does The Defense IT Spending Market Report 2025 Offer?
In the Defense IT Spending Market research report from The Business Research Company, you can acquire global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Defense IT spending refers to the government expenditure provided for various technologies and infrastructure to the military.
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